Away with the bureaucracy. Part of the CFTC's purpose is "to avoid systemic risk, and to protect the market users and their funds." Well that's an impossible battle you've got on your hands. "Avoid systemic risk"? No such thing. Literally any steps the government can and does try to take to avoid systemic risk just make bigger market distortions. That's simply clear, obvious, historically-evident economic fact. And "protect market users and their funds"? Again, no such thing. You're just tasked with creating further market distortions that produce bigger bubbles and nastier crashes. Bubbles and crashes are a normal thing. People get excited about some area of the economy and it appreciates, then they take a step back and realize things aren't actually worth quite that much and the market corrects. That's a natural thing. What's unnatural is the bubble crashing the entire economy when it bursts rather than corrections in individual sectors. What's unnatural is not being able to bounce back quickly. These unnatural things are what you get when you try to artificially engineer markets and remove risk for people. There's no such thing as a risk-free investment. Anything you try to centrally plan to that effect just distorts the market and makes the long-run consequences worse. Agencies like this are fighting a losing battle, in fact an impossible one, and throwing more money at them is not the answer.

Let's just eliminate the CFTC. Let the buyer beware. By the way, is the CFTC broken?

These "reforms" boil down to regulated entities no longer needing to preserve communications leading to commodity trades. In essence, this completely removes a fundamental component of the regulatory process, which, I'm sure, is the whole point.